South Atlantic Bancshares (OTCMKTS:SABK) Announces Quarterly Earnings Results, Beats Estimates By $0.02 EPS

South Atlantic Bancshares (OTCMKTS:SABK) announced its quarterly earnings results on Thursday. The company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02, Zacks reports.

South Atlantic Bancshares Price Performance

Shares of OTCMKTS:SABK remained flat at $15.75 on Thursday. The stock had a trading volume of 4 shares, compared to its average volume of 3,230. The firm has a market capitalization of $119.21 million, a price-to-earnings ratio of 13.24 and a beta of 0.38. South Atlantic Bancshares has a twelve month low of $10.45 and a twelve month high of $20.10. The business has a 50-day moving average of $15.81 and a 200 day moving average of $14.63.

Analyst Upgrades and Downgrades

Separately, Janney Montgomery Scott raised South Atlantic Bancshares from a “neutral” rating to a “buy” rating and set a $19.00 target price on the stock in a research report on Tuesday, December 3rd.

South Atlantic Bancshares Company Profile

South Atlantic Bancshares, Inc operates as the bank holding company for South Atlantic Bank that provides consumer and commercial banking products and services to individuals, small businesses, and corporations in South Carolina. The company offers checking, money market, and saving accounts, as well as certificate of deposit, individual retirement, and health saving accounts; personal, auto, and recreation loans, as well as home equity and ready reserve overdraft line of credits, and commercial lending products; and credit cards.